Trezor, a prominent developer of hardware wallet solutions for cryptocurrency, recently had its X/Twitter account stolen by unscrupulous individuals who were pushing fake presales. 

TakeAway Points:

  • Trezor’s Twitter account was hacked by unscrupulous individuals promoting a fake presale for “TRZR” tokens.
  • Scammers lured in $8,100 in money by urging participants to deposit Solana tokens.
  • Trezor’s security protocols and stand as a supplier of cryptocurrency hardware wallets are under scrutiny.

Trezor’s Twitter Account  hacked

According to the report, ZachXBT, an independent blockchain expert, posted on X on March 19 and informed his 528,000 followers on X of Trezor’s suspicious breach in a March 19 post to X. 10 minutes later, the suspected activity was also reported by the cryptocurrency security firm Scam Sniffer.

The disclosure states that a few hours ago, several scammers gained control of Trezor’s X account and used it to promote a fake presale of fictitious “TRZR” tokens. During a 24-hour period, the con artists demanded that those who want to take part in the fraudulent presale send Solana tokens to a specified address. 

Furthermore, they assured Trezor’s key backers of a “special bonus airdrop.” Notable cryptocurrency surveillance organisations, such as ZachXBT, have drawn attention to this issue.

ZachXBT, a crypto investigator, revealed that the bogus wallet got $8,100 in the short time after the scam announcement, which suggests that some members of the crypto community have fallen for the hack.

“Imagine hacking the Trezor account only to steal $8.1K (includes 25% drainer fee),” he wrote in a follow-up comment.

The post also mentioned Slerf, a brand-new memecoin on Solana that was probably meant to encourage further interaction. But, a lot of the posts were taken down shortly after they were uploaded, indicating that Trezor may have reclaimed access to its compromised X account. At press time, the Trezor team had not yet responded to the current exploit via their X account. The specifics of how the breach happened are therefore unknown. 

Concerns on Trezor’s Security

John Holmquist, a crypto analyst and X user, believes that Trezor’s failure to implement an appropriate multi-level authentication scheme was likely the root of the incident. They consider the issue hilarious because Trezor is a crypto security company.

“Please take account security more seriously,” he stressed.

Others, like Pledditor, a user of X, thought it was funny that a company that focuses on security for hardware wallets could not keep its own social network accounts safe.

“It’s hard, funny, and shameful at the same damn time that they don’t take their own advice,” added X user DigitalHustlerX.

However, Trezor reached out to its users on X concerning the attack. 

“We experienced a security incident on our X/Twitter account overnight, despite robust protections including a strong password and 2FA. We continue to investigate. Please remain vigilant and remember, Trezor will NEVER request funds or assets be sent to any address.”

Remarkably, this is not the first breach involving Trezor. Using a third-party email provider that Trezor usually utilises, an organisation posing as Trezor sent unsolicited emails to Trezor users in January.

However, in order to prevent falling for scammers, the security company urged customers not to respond to such unwanted communications. Considering this recent event, some in the crypto world believe Trezor’s standing as a security company may be impacted.

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